More startups and businesses are interested in moving into shared office spaces as the trend of coworking rises. Coworking spaces provide a variety of advantages, like flexible membership, lower costs than typical offices, a welcoming community, and a hardworking vibe, to mention a few. If your organization is interested in shared office spaces, you may be inquisitive about the pricing possibilities. We’ve done some research for you on shared office prices in major U.S., European, and Australian cities.
While shared office expenses vary by city and by company, you may expect to pay very minimal fees for a place that is exclusively yours. Keep in mind that the cost of a facility will always vary, but this should be in line with the services it provides. Some shared office spaces will have restaurants, courtyards, and even baths, while others will only have desks. Make sure you’re getting a good deal on facilities for your money by doing your homework.
According to DeskMag, the average monthly cost of a dedicated workstation in the United States is $387, while a hot desk is $195. These costs are relatively constant around the world, albeit they fluctuate across continents.
What to compare when considering shared office space costs
When calculating your costs, it’s critical to examine what they include. Because different spaces have different inclusions, this can be problematic. The top shared office spaces demand a premium for their location, amenities, and brand reputation.
The following items are usually included in the basic fee for most spaces:
- Wi-Fi
- Printing
- Communal kitchen with free coffee or tea (sometimes fruit too)
- Communal dining rooms
There are several inclusions and optional extras when it comes to other features.
Average Shared Office Space Costs
Coworking provides office and desk space alternatives to freelancers, startups, companies, and large global conglomerates alike, with anything from fractional seats and dedicated desks to custom build outs and private offices. Of course, the trick is to locate the best space solution that suits your team and goals.
Aside from the type of space, a shared office space’s pricing is influenced by a number of additional aspects, including:
- Location
- Agreement term
- Amenities
- Services offered
It’s worth noting, however, that the following average shared office space costs are just that: averages. In other words, it’s critical to conduct price research in your desired areas utilizing the most up-to-date and relevant data available.
Despite the fact that office suites are often a combination of a private office, a conference room, and some communal space, their average pricing is quite similar to that of a simple private office. While there is a link between square footage and cost, office suites typically have more staff than an individual office.
The higher number of employees per square foot along with longer average agreement durations brings office suite price points down to the same level as private offices. In addition, the average cost per seat in traditional space is closer to $250 to $500 per month, although this includes major upfront and continuing costs that shared office does not, as described above.
Type of Office Space | Average Cost |
Private Office (per person) | $350 – $800 per month |
Floating Desk / Hot Desk | $50-$350 per month |
Office Suite (per person) | $350 – $800 per month |
Custom build outs | Depends on the improvement costs |
What does a dedicated desk cost?
Permanent desks are sought by the majority of scaleups and downsizers. While more expensive than hot desk arrangements, tenants benefit from the benefits of shared office space while also having a permanent area for each employee. Permanent desk fees vary, as they do in other shared office spaces. A modest desk with limited services and facilities in an outlying area could cost as little as $650 per month. An exclusive CBD or inner-city space with a strong brand identification, substantial facilities, and services can cost up to $750 per month. For a convenient location, a range of on-site facilities, and services, the typical monthly rate is around $690.
Finding the Right Space
Coworking may not be the ideal solution for all company’s needs, but given how quickly the flexible real estate business is growing and evolving, it should at the very least be a factor in your search. Coworking is already a vital piece of the operational puzzle for everyone from remote workers and small business owners to Fortune 500 corporations, thanks to a long number of appealing facilities and advantages, décor, flexible periods, and inexpensive price points.
Enterprise software development experience. More recently in positions including CTO, Lead Developer and Head of Product in Australia. Deep expertise in property and legal technology in Australia with a specialty in lead generation and tech scalability across Asia-Pacific.